What if bitcoin was PLAN B by the Goverments?

[cuddaloreappu]

The world went into financial collapse in the 2008 and we are still not recovered from it and eurozone is struggling with debt..

 Governments decided the  Medicine to cure this was through bailing out those failing banks and then stimulate the economy with Quantitative Easing i.e by printing lot of  money and giving it to the 1% so that it would trickle down to the 99%..

But Quantitative easing did not work out! it only further concentrated wealth among the 1% and it caused currency inflation and debt..

So a massive currency crisis because if inflation is looming! japanese Yen, Russian ruble, canadian dollar al of them have lost a lot of value..

So is bitcoin a kind of PLAN B since it is deflationary and will save the world if this QE led project fails and currency crisis occurs..

and if it is, then if there is no currency crisis happening and world economy is back on track then bitcoin may simply go away without any real purpose....

[GermanGiant]

Dont worry... Government(s) wont work together. They'll compete each other.

[Beliathon]

So is bitcoin a kind of PLAN B since it is deflationary and will save the world if this QE led project fails and currency crisis occurs..

QE is already failing. QE will continue to fail because the effect is removing wealth from (and reducing quality of life for) the many poor. That wealth is redistributed in increasing concentration to a tiny few ultra rich. That's what austerity does in practice. So while our collective pain is growing in magnitude, our collective empathy, amplified by internet social connection, is raising our awareness of and sensitivity to this suffering.

Sooner or later a breaking point is reached and humanity will abandon this system of suffering for a more efficient and egalitarian system of distributing resources. This system will be a more compassionate one, to reflect the increasingly empathic nature of human civilization. Modern capitalism is a very, very over-engineered system. Good engineering is not what you add, it's what you take away. Bitcoin is like Occam's razor in that regard, but it doesn't solve the greater problem of capitalism. This is the beginning of the end of capitalism folks, and there's little anyone can do to change that.

https://www.youtube.com/watch?v=kpTAuivTqKE - Plug for Professor Wolff's Economic Update February 2015. There's some great stuff about Greece in there.

[Cicero69]

Dont worry... Government(s) wont work together. They'll compete each other.

http://beforeitsnews.com/mediadrop/uploads/2014/30/9f45a422510ca0667ee7e67594e43074c4f4520a.jpg

I like this, but you have got the good and bad mixed-up!

[runpaint]

Marxism, Communism, and Socialism have failed repeatedly, and have always hurt the poor and lowered the quality of life for everyone.  But despite repeated failures, they still succeed in spreading the same failed ideas on the internet.

For example, how could anyone believe that wealth comes from the poor?  How could any serious person believe that "the poor are getting poorer"? 

If a man has approximately $0.00 worth of assets, how could he get any poorer?  How is it that the quality of life for "the poor" in many nations is higher than the quality of life enjoyed by Kings and Queens throughout most of history?

In the United States, the poorest families have a higher life expectancy than the average member of royalty had, 200 years ago.  They also have more leisure and entertainment, TV, internet, cell phones, Playstations, heat in the winter and cold air in the summer, a different set of clean new clothes for every day of the week, and their choice of meat and fresh vegetables 3 times a day.  In the United States, the average "poor" person is not only well-fed, but actually obese.

But somehow people look at the wealth of our poor and say it must be changed.  They want to make our poor people live in the mud and die of terrible diseases.  Just like Obama said:  it doesn't matter if we actually help the poor, as long as we hurt the rich.  That's the main thing, so it will be "fair".

And congratulations, it's working.  All the progress that came from freedom is slowly being turned around, as we're allowed less freedom over our own money.  Socialist centralized control is reversing all those 200-year upward trends.

[finnile]

Dont worry... Government(s) wont work together. They'll compete each other.

It could always be a one sided government conspiracy.

[GonnaGrinditout]

In Japanese, Nakamoto means ‘central origin’, while Satoshi means ‘clear thinking, quick witted, wise’ i.e intelligent. The name can therefore be translated to mean ‘Central Intelligent’.

[albert11]

In Japanese, Nakamoto means ‘central origin’, while Satoshi means ‘clear thinking, quick witted, wise’ i.e intelligent. The name can therefore be translated to mean ‘Central Intelligent’.

If satoshi nakamoto was the government they wouldn't have given the source code away. Blockchain technology has given people freedom in that it gave them a choice to use whatever cryptocurrency they like.

If one day bitcoin becomes centralized people will move on to another one, same if a fed or govcoin was to be implemented.

Elite wants a one world currency that they control, there are already over 500 cryptocurrency , this is certainely not a government set up imo ( banks closing down account dealing with bitcoin speak volumes)

[picolo]

The world went into financial collapse in the 2008 and we are still not recovered from it and eurozone is struggling with debt..

 Governments decided the  Medicine to cure this was through bailing out those failing banks and then stimulate the economy with Quantitative Easing i.e by printing lot of  money and giving it to the 1% so that it would trickle down to the 99%..

But Quantitative easing did not work out! it only further concentrated wealth among the 1% and it caused currency inflation and debt..

So a massive currency crisis because if inflation is looming! japanese Yen, Russian ruble, canadian dollar al of them have lost a lot of value..

So is bitcoin a kind of PLAN B since it is deflationary and will save the world if this QE led project fails and currency crisis occurs..

and if it is, then if there is no currency crisis happening and world economy is back on track then bitcoin may simply go away without any real purpose....

Bitcoin is too innovative for a governement to create it.

[BitNerd]

So is bitcoin a kind of PLAN B since it is deflationary and will save the world if this QE led project fails and currency crisis occurs..

Son, governments are what the world needs to be saved from, not what the world needs to be saved by.

[Beliathon]

So is bitcoin a kind of PLAN B since it is deflationary and will save the world if this QE led project fails and currency crisis occurs..

Son, governments are what the world needs to be saved from, not what the world needs to be saved by.

QFT

Related: Sunset of the State

[Beliathon]

For example, how could anyone believe that wealth comes from the poor?

The wealth is generated from the labor of the workers, an increasing number of which are poor and getting poorer.

How could any serious person believe that "the poor are getting poorer"?  

How could anyone claim to be ignorant of this very well documented and controversial phenomenon and expect to be taken seriously? What's next, climate change or Holocaust denial?

If a man has approximately $0.00 worth of assets, how could he get any poorer?

Debt, and slavery to it. If you have $0 in assets and owe $20,000, you have a negative net worth. We have also recreated a modern form of indentured servitude with never-ending unpaid internships.

How is it that the quality of life for "the poor" in many nations is higher than the quality of life enjoyed by Kings and Queens throughout most of history?

Technology. That's irrelevant and moot since we aren't time travelers.

In the United States, the poorest families have a higher life expectancy than the average member of royalty had, 200 years ago.  They also have more leisure and entertainment, TV, internet, cell phones, Playstations, heat in the winter and cold air in the summer, a different set of clean new clothes for every day of the week, and their choice of meat and fresh vegetables 3 times a day.  In the United States, the average "poor" person is not only well-fed, but actually obese.

Is there no compassion in your heart?





Nothing like being pushed backwards in time 40 years economically in the span of 5 years.

[pereira4]

Actually it's not far farfetched that BTC itself could have been created by the gov or some agency. I belive the theory of Bitcoin being invented by someone government related is very plausible, but so what? the code is open source. It's like complaining about TOR being invented by the US army, so what if then serves good for the people.

[bitbaby]

I don't think it was by government but after seeing how it works and the concept of blockchain, we might see something similar from them, it will be more centralized of-course with restrictions.

[caga]

Well bitcoin is decentralized, so I don't think the government would be behind something like this.

[2btc]

Bitcoin isn't their Plan B. They would never introduce something they can't control.

Marxism, Communism, and Socialism have failed repeatedly, and have always hurt the poor and lowered the quality of life for everyone.  But despite repeated failures, they still succeed in spreading the same failed ideas on the internet.

How does Socialism hurt the poor or lower the quality of life for everyone? And why do you not include Democratic capitalism? Surely that has failed too?

[finnile]

Bitcoin isn't their Plan B. They would never introduce something they can't control.

If inbcase it was a government project, then they would definitely have a way to control it.

[tokeweed]

In Japanese, Nakamoto means ‘central origin’, while Satoshi means ‘clear thinking, quick witted, wise’ i.e intelligent. The name can therefore be translated to mean ‘Central Intelligent’.

LOL

edit:  wait.. seems farfetched at first but the CIA was allegedly involved in lots of other stuff to raise money like drug trafficking...  http://en.m.wikipedia.org/wiki/CIA_and_Contras_cocaine_trafficking_in_the_US

if they really started bitcoin as an experiment to create a new economy where they can raise funds then more power to them. 

[runpaint]

The wealth is generated from the labor of the workers,

They get paid for what they generate.  

an increasing number of which are poor and getting poorer.

That's false.  The poor have been steadily getting richer for hundreds of years.  

What's next, climate change or Holocaust denial?

Climate change, or Global Warming?  Which side are the deniers - the ones who deny that climate change existed before humans?

Which side are the evil Nazi Holocaust deniers - the ones who want to blame all the problems of the working man on a small segment of the population (Greedy Rich Jews, right)?  

Go on, tell us how a few evil people are stealing all our wealth.  Let's have a final solution!  

Like I said, your sick ideas have been tried before.  Every time a society gets rid of the rich, people end up risking their lives to escape and go somewhere that still has rich people.
 

Debt, and slavery to it.

Yes, we're all shackled with 72" TVs and new cars.  GIVE US FREE!

(Give us free expensive stuff, and then we'll call it slavery when we don't want to pay for it)

How is it that the quality of life for "the poor" in many nations is higher than the quality of life enjoyed by Kings and Queens throughout most of history?

Technology. That's irrelevant and moot since we aren't time travelers.[/quote]

Oh, so quality of life is irrelevant.  Then how can we define poverty?  That's right, just point fingers and make up hateful rhetoric.

Have you no compassion?  Don't you care that the poor have been lifted out of all their problems?  They don't starve, they aren't consumed with disease and filth, they live lives of comfort and leisure, their children don't die.  No, you don't care.  You want to reverse that progress and send us all back into lives of misery.

Nothing like being pushed backwards in time 40 years economically in the span of 5 years.

By your stupid ideas.  Capitalism pushed us forward 1000 years, and Marxism has been chipping away at it.  Keep it up, maybe you'll eventually bring it all down and destroy society like you want.

[runpaint]

How does Socialism hurt the poor or lower the quality of life for everyone?

By rewarding failure and thereby creating more of it.

Black families in the United States were the fastest-growing income class, until the 1960s when the Marxists decided to sabotage them with harmful government policies.

"You can have this free apartment - but only if you're a single mother.  Your husband has to leave the family if you and your kids want to stay here."

Guess what?  Offer it to enough people, and some of them will take you up on it.

The Socialist policies in our government actively worked to destroy families and keep people in cycles of generational poverty, dependent on the government and helpless.  Less husbands and fathers, more poverty and more prison sentences.

And why do you not include Democratic capitalism? Surely that has failed too?

Which country would that be?  In the United States, about 50% of the population pays taxes.  The other half gets free money from the ones who pay taxes.  And the ones getting free money are the ones under the most government control with the least hope for a better future. 

If Capitalism has failed, it's only because Socialism took over a long time ago.  But don't point to Socialism and call it Capitalism.